June Newsletter

“Federal Reserve banks to remain at current rates with no new hikes expected this year”

June Residential Market Review: Courtesy of Har.com. Please click on the logo to learn more.

HOUSTON — (June 9, 2021)“Houston area home sales set new records in May as consumers took advantage of historically low interest rates in snapping up an ever-dwindling supply of properties for sale. What resulted was a nearly 50 percent jump in sales volume compared to the same month last year, when real estate was still in the process of recovering from coronavirus-related lockdown orders. Limited supply, strong buyer demand and increased construction costs all contributed to record high home prices…”

  June Commercial Real Estate Highlights: Courtesy of BISNOW. Please click on the logo to learn more.

June 9, 2021 – Houston In Third Place For Most Fortune 500 HQs – Multiple corporate relocations to Houston over the past year have boosted the city into third place for the most Fortune 500 company headquarters in the U.S., new data from Fortune showed. There are 24 Fortune 500 companies with headquarters in the greater Houston area, placing the city behind only New York with 64 Fortune 500 companies and Chicago with 35 companies. Dallas ranks fourth on the list with 22 companies. Houston added four businesses to its list this year: Academy Sports + Outdoors, Hewlett Packard Enterprise, NRG Energy and KBR, which qualified for the list this year. Texas has become a magnet for corporate relocations over the past decade, luring companies with the promise of lower taxes, less regulation, cheap housing for workers and warm weather. The 2021 Fortune 500 rankings reflect that ongoing trend…”

NewQuest Properties Vice President Austin Alvis said that drive-thrus have become an absolute requirement for new store growth. The industry has recognized that the drive-thru is not just a driver of revenue, but also a protective mechanism in times when things go wrong. “Everybody operated almost an entire year with no dine-in business, so it really changed the game,” Alvis said.

  June Mortgage News & Education: Courtesy of thebalance.comPlease click on the logo to learn more.

How to Pay Off Your Mortgage Early“Paying off your mortgage early might be a worthy goal if you’re planning to live there for a long period of time, but there might be better uses for your extra cash if you’re planning to move on in a handful of years. That said, you have at several options for paying your loan off early if you’re determined to live mortgage-free, from making an extra payment now and again to refinancing.” Please click on the logo to read this article.

 Additional Resources:

Here are a few references that we have found helpful in understanding our markets and economy… 

  Giving Back: Courtesy of thebalance.comPlease click on the logo to learn more.

I want to bring your attention to our charity commitment, UnBound. Through the generous contributions of more than 260,000 sponsors that make this work possible, Unbound celebrates more than 30,000 children, elders and families in Asia, Africa and Latin America. Chris-Properties has been a contributing sponsor since 2017. Will you join us?

As we continue to gain strength as a community, city, state and nation, please let us know how you are doing and how we can help you!